Vietnam's top brokerage, Saigon Securities Inc. (SSI), posted a record net profit of 668.5 billion dong ($41 million) in the first half, more than four fold its annual earnings last year, a state-run newspaper reported.
The company's net profit for the whole of 2006 was just 148.8 billion dong, its prospectus showed.
However, the Lao Dong (Labour) daily quoted the Ho Chi Minh City-based firm as saying net profit in the second quarter was half the earnings in the first quarter at 203.88 billion dong ($12.6 million). The report gave no reasons for the fall in second-quarter earnings.
SSI's main lines of businesses include underwriting share and debt issues as well as advising state-owned companies on privatisation. It is among about 50 companies offering such services in Hanoi and Ho Chi Minh City.
Earlier this month, Australia and New Zealand Banking Group Ltd. and Japan's Daiwa Securities Group Incorporation paid $88 million and $10.9 million respectively for a 10 percent and 1.25 percent stakes in SSI, valuing the firm at about $880 milllion.
Shares in SSI were traded down 0.32 percent at 156,400 dong ($9.7) each at 0225 GMT on the over-the-counter Hanoi exchange on Monday.
Source: Reuters
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